M&A News SME
SET services attracts investor for further growth
Amsterdam, April 22, 2022 - Total Specific Hosting ('TSH'), the leading group of collaborating Dutch ICT outsourcing companies, has taken a strategic stake in cloud service provider SET Services ('SET') of Amsterdam. This will give SET access to knowledge and permanent capital to shape the next phase of growth. This will accelerate the growth path for customers and employees. TSH is a portfolio company of Strikwerda Investments, the leading investor in Dutch ICT companies.
Successful ICT approach
SET has been in existence for 23 years and has become a major Dutch player in the field of ICT outsourcing. With over 30 employees, SET offers professional and innovative cloud solutions for its SME clients in the Netherlands. The company has in-depth knowledge of SMEs, a high service level (XLA) towards end users and a full scope ICT outsourcing services package, including an innovative digital workplace.
Further growth SET Services
Michiel van Joolen founded SET in 1999 and is still involved as an ambassador for SET: “We have been in existence for 23 years and in recent years have developed from an all-round IT service provider to a serious specialist in the ICT market for SMEs in the Netherlands. SET had been looking for some time for a strategic partner with the right expertise and sufficient capital to accelerate its growth. In TSH, we found the ideal partner. Our strategy is to achieve organic growth through a technical partnership with OfficeGrip’s modern workplace proposition and thus grow further as a cloud service provider. Our management team will continue in its current role to realize this next step.”
Erik Jongkind, CEO of SET: “TSH gives us the freedom and space to undertake and build. We have grown rapidly organically in recent years and have become even more visible to SMEs, who now see us as a serious alternative to the larger players in the market. The cooperation with TSH, and more specifically OfficeGrip, is a logical step for the next growth phase of our company.”
Harm Sok, CCO of SET: “The cooperation with TSH enables us to realize our growth ambitions together with the other entrepreneurs within the group, without compromising SET’s DNA. In this, we strongly believe in 1 + 1 = 3, through improved growth and economies of scale, among other things.”
Expansion of modern workplace proposition TSH
Joris Dierick, (interim) CEO of Total Specific Hosting: “SET has proven that it can bring its clients to a secure environment in the cloud. This transition is applicable for any type of SME, making SET a strong pillar for our growth in various market segments. In addition, it gives the other companies within TSH the opportunity to benefit from the collaboration. The management team and Michiel are a welcome addition to our team of ambitious entrepreneurs.”
Strikwerda Investments (SI) is a family investment company that focuses on healthy, ambitious, medium-sized and large SMEs. It is a Dutch investment fund with a strong track-record in the ICT sector. SI is majority shareholder in ICT outsourcing company TSH and will become so in SET through this transaction. TSH has a long-term investment horizon and, in addition to its current strong organic growth, also wants other leading ICT outsourcing companies to join within the group.
“With SET joining Total Specific Hosting, an experienced management team consisting of Erik Jongkind (CEO), Harm Sok (CCO) and Barbara Kinsbergen (CFO) joins. Michiel, Erik and Harm have built a great company and can accelerate even further in the new setting,” said Ronald Steenbakkers, M&A Director at De Breek F&O, which guided SET Services through this successful transaction.